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Investment Arbitration under the United States-Mexico-Canada Agreement (USMCA)

Chapter 13: Rules and Procedures for Investment Dispute Settlement

The USMCA, successor to the North American Free Trade Agreement (NAFTA), outlines rules and procedures for investment arbitration in Chapter 13. This article provides an overview of key provisions governing investment arbitration.

Article 13.19: Appointment and Replacement of Presiding Arbitrator

Appointment of Presiding Arbitrator

• The parties to a dispute may agree on the presiding arbitrator, or if not agreed, the Secretary-General will appoint one.
• The expertise or experience of the candidates in financial services shall be taken into account.

Replacement of Presiding Arbitrator

• If the presiding arbitrator is already appointed, they can be replaced upon request and the tribunal reconstituted.
• If a new presiding arbitrator is not agreed within 30 days, the Secretary-General will appoint one consistent with clause (i).

Article 13.19(d): Arbitration Proceedings

Commencement of Arbitration

• The arbitration can proceed 10 days after receiving the Committee’s determination or, if extended, after the expiration of the 60-day period.

Definitions

The following definitions apply to this article:

• Claimant: As defined in Article 11.28.
• Disputing parties: As defined in Article 11.28.
• Disputing party: As defined in Article 11.28.
• Respondent: As defined in Article 11.28.
• Secretary-General: As defined in Article 11.28.

Article 13.10 Defense

The party of the claimant may make submissions regarding whether Article 13.10 is a valid defense to the claim.

This article provides essential information on investment arbitration under the USMCA, highlighting key provisions and procedures for dispute settlement.